ADB Through the Decades: ADB’s First Decade (1966–1976)
Abstract
Description
The 5-volume publication, ADB through the Decades, provides a historical account of how ADB has evolved to respond to the dynamic changes across the Asia and Pacific region over the past 5 decades. This first volume from the series explains how the idea of a regional development bank for Asia emerged and gained support, and how ADB established itself as a sound and credible institution. When ADB was established in 1966, the Asia and Pacific region was undergoing a process of deep change. Several countries gained independence and a sense of regional identity was emerging. The region was defined by poverty and feeding people remained a primary concern, even while the Green Revolution was under way. The first oil crisis in 1973 tested many Asian economies. This volume explains the beginnings of a regional development bank for Asia. During its formative years, ADB dealt with administrative, organizational, and funding issues to establish itself as a sound and credible institution. ADB’s first President, Takeshi Watanabe, envisioned ADB’s role as Asia’s “family doctor.” The Bank conducted several studies to have a fuller understanding of the region before lending on energy, transport, agriculture, and finance gained momentum during the latter half of the first decade.